The balance sheets of Chanderma Ltd. and its subsidiary Tara Ltd. as on 31 st March, 2014 are as follows: Chanderma Ltd. Tara Ltd. ₹ ₹ I EQUITY AND LIABILITIES (1) Shareholders' funds : (a) Share capital-authorised, issu

The balance sheets of Chanderma Ltd. and its subsidiary Tara Ltd. as on 31 st March, 2014 are as follows: Chanderma Ltd. Tara Ltd. ₹ ₹ I EQUITY AND LIABILITIES (1) Shareholders' funds : (a) Share capital-authorised, issued, subscribed and paid-up: Preference share capital 10,00,000 Equity share capital of ₹100 each as fully paid-up 50,00,000 60,00,000 15,00,000 15,00,000 (b) Reserves and surplus : General reserve 34,00,000 60,000 Surplus 36,00,000 70,00,000 10,80,000 11,40,000 (2) Current liabilities: (a) Trade payables 10,00,000 4,41,500 (b) Bills payable 10,00,000 2,41,500 6,83,000 1,40,00,000 33,23,000 II ASSETS (1) Non-current assets: (a) Fixed assets: Land 35,60,000 7,00,000 Properties 37,60,000 4,00,000 Plant and machines 14,00,000 87,20,000 9,13,000 20,13,000 (b) Long-term investment: 12,000 shares of Tara Ltd. on 1 st April, 2013 18,00,000 — (2) Current assets: (a) Inventories 13,60,000 5,06,000 (b) Trade receivables and cash 21,20,000 34,80,000 8,04,000 13,10,000 1,40,00,000 33,23,000 The other information are : Surplus of Chanderma Ltd. includes dividend of 10% received from Tara Ltd. On 1 st April, 2013 surplus of Tara Ltd. stood at ₹7,75,000 and general reserve at ₹30,000. Chanderma Ltd. revalued plant and machinery of Tara Ltd. at the time of purchase of shares by ₹2,00,000 more than its book value. Inventory of Chanderma Ltd. includes ₹80,000 of inventory at cost purchased from Tara Ltd. Further, trade receivables of Tara Ltd. include ₹2,40,000 for the sale to Chanderma Ltd. on which Tara Ltd. makes a profit of ₹60,000. Tara Ltd. made a bonus issue during the year out of pre-acquisition profits for ₹6,00,000. This is not recorded in the books. Prepare consolidated balance sheet.